How much is enough for retirement in Singapore?

[starlight1968sg]

Estéema\" post_id=\"2060103\" time=\"1645944301\" user_id=\"66413:

CareShield Life is not for me as it’s high premium for my age is just not a good deal. I think I’ve snug covers with my various health covers with AIA, NTUC Income, Great Eastern & AVIVA. The rest of my funds shld see me thro.

Not being able to perform some ADLs is quite common when old and hence the importance of CareShield Life.
I will think about this later ...

[Estéema]

starlight1968sg\" post_id=\"2060104\" time=\"1645944621\" user_id=\"14025:

Not being able to perform some ADLs is quite common when old and hence the importance of CareShield Life.
I will think about this later ...

Do note the terms & conditions for claims & I’ve alr mapped our care plans in the event I need nursing care or helper care. At least I’m in control & can decide who can access my funds or how I want to use my funds. Self-insure in a way with family members’ involvement.

[Zeal mummy]

Thank you Starlight and Esteema for sharing. I need to try to gap what I don’t know here… it sounds like an uphill task to plan 20 years ahead tho…

[Estéema]

Zeal mummy\" post_id=\"2060122\" time=\"1645965915\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2060122 time=1645965915 user_id=58173]
Thank you Starlight and Esteema for sharing. I need to try to gap what I don’t know here.. it sounds like an uphill task to plan 20 years ahead tho..[/quote]

I’ve realized after buying diff insurances over the years, oftentimes the value either depreciates as costs goes up it devalues what was intended. I’ve learnt to balance insurances with various investments to bring some balance for my future needs.

Think the impt bit wld be to hv trusted family members to be able to help access such pre-planned insurances for claims & other funds for retirement or any future disability need for use for self. Building close & warm relationships helps not to deviate too far fr my wish till the day I cannot express or utter my wishes.

[Zeal mummy]

Estéema\" post_id=\"2060124\" time=\"1645966944\" user_id=\"66413:

I’ve realized after buying diff insurances over the years, oftentimes the value either depreciates as costs goes up it devalues what was intended. I’ve learnt to balance insurances with various investments to bring some balance for my future needs.

Think the impt bit wld be to hv trusted family members to be able to help access such pre-planned insurances for claims & other funds for retirement or any future disability need for use for self. Building close & warm relationships helps not to deviate too far fr my wish till the day I cannot express or utter my wishes.

I agree with you.. as such I have been investing in CPF and a property to fund my retirement. I find insurance to be a poor investment tool, although some of it is useful to cover hospital charges.

I still don’t know my wishes.. or who I can fully trust, need some time to figure that out.

[Estéema]

Zeal mummy\" post_id=\"2060195\" time=\"1646057039\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2060195 time=1646057039 user_id=58173]
I agree with you.. as such I have been investing in CPF and a property to fund my retirement. I find insurance to be a poor investment tool, although some of it is useful to cover hospital charges.

I still don’t know my wishes.. or who I can fully trust, need some time to figure that out.[/quote]

Good to diversify yr portfolio to hv alternative access. Hope u identify that trusted person soon, or u start bldg good relationships u can entrust yrself with in yr Golden years.

[Zeal mummy]

Estéema\" post_id=\"2060196\" time=\"1646057863\" user_id=\"66413:

Good to diversify yr portfolio to hv alternative access. Hope u identify that trusted person soon, or u start bldg good relationships u can entrust yrself with in yr Golden years.

Does age matters? Those whom I count on are mostly older than I am… that they might pass on before me.

[lee_yl]

We do not have any insurance investment plan. The returns not very good and high management fees.


Investment plan can’t earn as much as rental and ppty capital appreciation. DH buys ETFs though.

[sharonkhoo]

Zeal mummy\" post_id=\"2060197\" time=\"1646058776\" user_id=\"58173:[quote=\"Zeal mummy\" post_id=2060197 time=1646058776 user_id=58173]
Does age matters? Those whom I count on are mostly older than I am… that they might pass on before me.[/quote]

Age does matter - the person you ask to help manage your affairs if you are unable should be mature but not too old. If you yourself are still fairly young, someone older than you may not yet too old to do it if called upon within the next 10-20 years. But if you appoint someone older, you should be prepared to have to reappoint someone younger eventually.

When we were younger, we appointed people of our generation (siblings and in-laws). But now at nearly 60, I would not appoint anyone older than I am - by the time they are called on to do anything, they might not be up to it. Now that we have grownup daughters, nephews and nieces, we are switching to appointing members of the next generation to be our \"trusted people\".

[Zeal mummy]

slmkhoo\" post_id=\"2060207\" time=\"1646093535\" user_id=\"28674:

Age does matter - the person you ask to help manage your affairs if you are unable should be mature but not too old. If you yourself are still fairly young, someone older than you may not yet too old to do it if called upon within the next 10-20 years. But if you appoint someone older, you should be prepared to have to reappoint someone younger eventually.

When we were younger, we appointed people of our generation (siblings and in-laws). But now at nearly 60, I would not appoint anyone older than I am - by the time they are called on to do anything, they might not be up to it. Now that we have grownup daughters, nephews and nieces, we are switching to appointing members of the next generation to be our \"trusted people\".

Thank you for the advice, SLM. I’m humbled by the wealth of good advice I’ve found here.